Nigerian minister says $6.8B of public funds stolen in seven years

Nigerian Minister alleges that fifty-five government officials and businessmen embezzled public funds costing 1.34 trillion naira (US$6.8 billion) over a period of seven years.

Reuters Africa reported that around $6.8 billion was stolen between 2006 and 2013 as told by Information Minister Lai Mohammed during the launch of corruption awareness campaign on Monday. He added that the amount is the money a few people mostly government ministers, state governors, public officials, bankers and businessmen apparently stolen.   

The source wrote the breakdown presented by Mohammed which included the pilfering of 147 billion naira ($742.42 million) by 15 former state governors, 524 billion Naira ($2.65 billion) by bankers and 7 billion naira ($35.35 million) was taken by four former ministers.

"If we don't kill corruption, corruption will kill Nigeria," added Mohammed as quoted by Reuters.

The Star news site confirmed that fifty-five people were accused of stealing public money in the period of seven years. The endemic corruption supported small elite while most Nigerians live in poverty despite the country being the oil producer of Africa.

The disclosure of the alleged corruption of 55 people is a move of President Muhammadu Buhari who won the election in May pledging to end corruption in Nigeria. The president ordered the investigation of former military chiefs for claimed arms procurement scam after corruption charges have been pointed against former national security adviser and former defense minister, the site held.

Buhari revealed that the public purse were "virtually empty" when he sit as president after Goodluck Jonathan, wrote Channel News Asia. The president added his government will retrieve "mind-boggling" sums of money stolen from the oil sector.

Channel News Asia recalled the presidency of Buhari ended a period from 1999 to 2015 overthrown by People's Democratic Party. The PDP, now in opposition, has indicted the president of intensifying pursuit versus its members.

The Nigerian government is fighting the widespread corruption that caught its people to poverty. Buhari's leadership asked people to address what he called Nigeria's War. 

Tags

Nigeria, Corruption, Muhammadu Buhari, Nigerian government, Public Funds

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